by Professor Adrian Beck, University of Leicester
The risks of retail loss, colleague and shopper safety, break ins, burglaries, etc are not evenly spread, some retail and distribution locations are simply "hotter" than others. In this session, two retailers will share the risk models that support the allocation of their safety, loss and security investments across their network of stores and distribution locations. Specifically, they will share the external and internal risk factors in their risk model, the outputs and then how they operationalise the model internally. Importantly, they will also share how in practice they use the model for those difficult conversations where they have to say "no" to requests for investments from locations that the model determines are lower risk locations.
Following the presentations, the group will discuss the risk models shared and then share back their own current approaches, the challenges they face or not with their model, and the open questions, such as how to factor in omni-channel risk into the models.
This session is one of a series of retailer, producer and academic only working group discussions. If you would like to join this session or others that are coming up please register.